Air America Radio closing, filing for bankruptcy

LOS ANGELES (AP) -- Air America Radio, a progressive radio network that once aired commentary from Al Franken and Rachel Maddow, is shutting down.

The company founded in April 2004 says it is ceasing operations Thursday afternoon and will soon file to be liquidated under Chapter 7 bankruptcy.

Air America says 10 consecutive quarters of declining ad revenue and the difficulty of making money on the Internet contributed to its financial woes.

The network had some 100 radio outlets nationwide.

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APNP 01-21-10 1814EST